“The President’s budget will achieve savings through reforms that prevent taxpayer bailouts and reverse burdensome regulations that have been harmful to small businesses and American workers,” he said. “These initiatives, coupled with comprehensive tax reform and other key priorities, will move America one step closer to sustained economic growth of three percent or higher.”

Earlier this year, the Trump administration released its preliminary budget proposal, which outlined several of its priorities, including a $6.2 billion budget cut for the U.S. Department of Housing and Urban Development.

Then Friday, a leaked document showed the HUD budget cut will eliminate many affordable housing programs.

Diane Yentel, National Low Income Housing Coalition president, said the spending plan is “immoral.”

However earlier this year, HUD Secretary Ben Carson voiced his support for the budget cuts, saying it promotes fiscal responsibility.

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Kelsey Ramírez is a Reporter at HousingWire. Ramírez is a journalism graduate of University of Texas at Arlington. Ramírez previously covered hard issues such as homelessness and domestic violence and began at HousingWire as an Editorial Assistant.

This month inHousingWire magazine

The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?

Feature

As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy.

Commentary

There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.